COVID19 FINANCIAL

RELIEF FUNDS
24 Apr 2020

Many South African households have been affected by COVID -19 and will
continue feeling the pinch in their finances. We’ve put together a list of
funding initiatives that are aimed at assisting individuals and small
businesses affected by COVID-19.
SPARK Schools and a number of organisations have heeded calls made by
South African President Cyril Ramaphosa to play their part during this
pandemic.

SPARK Schools COVID-19 Relief Project

To alleviate the financial pressure on our families, SPARK Schools has
partnered with the Ignite Education Fund on the COVID -19 Relief Project, to
raise funds for SPARK families who face retrenchments, salary cuts and lost
income in their own businesses due to the pandemic. The fund will be
seeking donations from businesses and individuals to ensure that SPARK
students remain at school and that their education is not interrupted because
of COVID-19.
The project will assist SPARK Families with financial support to pay school
fees, the provision of educational tools and materials during the lockdown to
avoid scholars falling behind on their studies and academic, social -emotional
and community support to prevent lowered school attendance or dropouts .
Relief applications for SPARK families wil l open on the 28 April 2020 on the
Ignite Education Fund website http://www.IgniteEducationFund.co.za/.

Bank reprieves
Most South African banks are giving a financial reprieve for clients, such as
payment holidays on loans and house bonds. Banks are giving consumers a
payment break of up to three months. These reprieves apply to both
individuals and small businesses. To see if you qualify for a bank reprieve
contact your bank or check their websites.
Standard Bank Financial relief for business
https://www.standardbank.co.za/southafrica/business/covid-19

Absa Covid-19 payment relief

https://www.absa.co.za/personal/covid-19/covid-19-payment-relief-plan/

FNB Covid-19 Cashflow relief

https://www.fnb.co.za/realhelp

Nedbank Covid-19 debt assistance

https://www.nedbank.co.za/content/nedbank/desktop/gt/en/personal/covid-19-debt-relief.html

https://sparkschools.co.za/covid19-financial-relief-funds/
Capitec Credit relief
https://www.capitecbank.co.za/bank-better-live-better/articles/good-for-credit/credit-relief/

Small Business Financial Assistance

The government has announced a number of initiatives that will help aid
South Africans whose finances have been affected by COVID -19. One of the
funds is the COVID-19 SMME Relief Fund, which is facilit ated by the
department of small business development. The fund aims to help small
businesses that have been impacted by COVID-19. To apply go
to http://www.dsbd.gov.za/wp-content/uploads/2020/03/SMME-Debt-Relief-
Scheme-1.pdf

Unemployment Insurance Fund

South Africans who’ve lost jobs due to COVID-19 can also apply for the
Unemployment Insurance Fund (UIF). If you’ve been affected by COVID -19
you can apply in the department of labour’s website to get your
unemployment benefits. To apply visit: https://www.ufiling.co.za/uif/
If your finances have been affected by COVID-19, please make use of these
resources.

https://sparkschools.co.za/covid19-financial-relief-funds/